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Monex seeks to purchase FTX Japan

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Monex Group, a Tokyo-based online trading firm, was drawn to FTX Japan, one of four FTX properties placed up for sale.

In an interview with Bloomberg, Monex CEO Oki Matsumoto stated that they are interested and that it will be a “really beneficial thing” for them if there is less competition in the local market.

Matsumoto also stated that the Japanese crypto sector has a lot of potential since firms may be interested in investing in digital assets or employing nonfungible tokens for marketing initiatives.

When the time comes, Monex intends to be one of the few possibilities for local players, according to the CEO.

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Monex also owns a controlling stake in Coincheck, a Japanese Bitcoin wallet and exchange service, and announced its intention to launch the crypto exchange on Nasdaq last year. Matsumoto stated that their ambitions to list Coincheck on the Nasdaq exchange have not changed.

FTX Japan is one of four FTX properties that have been approved for sale as part of the bankruptcy process. Other assets include the stock-clearing platform Embed, the derivatives platform LedgerX, and the exchange’s European subsidiary, FTX Europe. The court authorizes individuals interested in purchasing to conduct due diligence and investigate the assets for sale.

Monex is not the only company interested in the FTX asset. A court document on Jan. 10 showed that about 117 companies have expressed interest in purchasing the assets of the beleaguered exchange. According to the data, 41 buyers are interested in FTX Japan.

See Also: In 2023, Japan will end its ban on foreign stablecoins like USDT

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